I have noticed a sudden rise in property prices in islamabad cda sectors. The rise seems to be from 50 lac to 1 crore and seems no reason behind this price hike which is huge, can anybody explain what is the reason??
I have seen g-11 , g-10 , f-11 1 kanal houses and plots seeing a jump of 1 crore? Which seems very odd.
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Salman your observation is shared by many and is a fact. The rise has been gradual within past 1-2 yrs though.
Apart from some other minor side-factors that also play a small part (like currency devaluation etc) main reason being current governments real estate reforms that lead to the almost complete demise of the previous speculative markets such organic growth in genuine market was obviously expected.
And CDA Zone 1 leading the way in demand is no surprise either. Genuine market gradualy moving upwards as it should.
Can someone also comment on the fact that why societies near the new airport have seen a decline in recent years, such as Faisal town
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Bilal as mentioned above, allow me to elaborate a little more for you, most (not all) of the surrounding developments/societies were flourishing pricewise because of the previous speculative market business model i.e investors and dealers trading files and plots, thus inflating the unjustified prices in real estate market, so when the recent real estate reforms got implemented, boom, finito, no more cookies. The growth you see now will mostly be in authentic genuine developments that will continue to grow according to genuine demand.
In the history of Islamabad real estate market, a "bubble" always starts from CDA's rotten sectors of zone 1.
Perhaps a new "game" played by bored investor mafia.
If this is genuine, then it could be due to overseas Pakistanis who after seeing stable rupee have started dumping their money in safe properties. They always start from CDA sectors, then move to DHA, then Bahria, and then every Tom Dick and Harry gets its share.
In case of bubble, only those who enter the market first and leave first are the gainers. You don't want to be tail-ender. Got the hint?
Thanks for the replies, but what do you senior guys think is it a bubble or it will sustain and might go up as well, i am a bit surprised to see this much hike in CDA sectors…
CDA rise was long due and genuine. While you will see some people not welcoming this rise because of there vested interests in “BHAIRIYA TOWN” and DHA. Everyone knows games of bahria and thousands have suffered there in Bahria.
Yes, for sure, CDA sectors seeing a resurgence in demand. Not sure, if the magnitude of appreciation is same... Some but not all reasons as an add-up to earlier comments:
- USD slight reversal for now.
- CDA's work here and there: Anti-encroachments, some prework in stalled sectors for years (E-11, I-11, I-12/15 and C-series etc. also planned).
- Developed CDA sectors though have much inferior infrastructure, still they enjoy prime locations and appreciate well overtime.
As a correlated example: In Satellite Town, in a specific street with issues of water in summer and Gas pressure in Winter, a single event made plot prices jump by 0.8 to 1.0 million PKR/Marla in almost no time.
Event is up-gradation of Woman College into a University and subsequent demands of Hostels in the proximity. This is where these open land areas' residential property turns into a commercial goldmine and beats much superior commercials of BTs/GG/DH (i.e., Consumer Footfall and in big numbers).
Dear gurus what are best investment options for CDA sectors in the bracket of 6 million?
Depends on individuusla's prefences. Here are some options:
Developed with families living
I-16
I-14
Under developed but good future
I-12
E-12
I-15
Thanks Gurus for the response my next question is it the right time to buy a house in CDA sectors like G-11, G10, F-11, i am a overseas Pakistani and looking to buy a house for own living but stunned by the rise in price of property in CDA sectors. A 40x80 house asking price is 4.5 to 5.5 crore whereas a 1 kanal plot is starting around 5 crore.
E-12 could be game changer, is there any ground work there, what is risk factor from low to high ?
There had been a delay for 2+ decades but seems like time has arrived. CDA did got lots of encroached land back and started on Service Road Work (sort of main boulevard/entrance in typical CDA sectors). Tender issued but CDA being CDA will keep that slow but seems like on priority after I-12 and alongside I-15.
https://www.thenews.com.pk/print/514136-cda-prepares-to-start-development-work-in-e-12
https://www.urdupoint.com/en/pakistan/cda-starts-development-work-in-sector-e-12-778905.html
Imtiaz sb do you mean to say that I-12 is going to be developed before I-15 and E_12?
Dear Gurus, what is the construction cost for a 1 kanal 2 storey house on turnkey these days i am asking for a category A construction ?
IB, most probably yes, I believe.
Also development tenders issued for all, regardless wherever development starts first, in the long run I-12 will appreciate more than others.